1 . Beware the Narrative . . . When it comes to investing, there are two problems with . . . storytelling: It ignores actual data. And it makes investors feel good, regardless of what is actually happening.

10. Pay Attention to the Skeptics - Someone challenges the belief in gold, and instead of responding with empirical, data-driven counter-arguments, the true believers revert to personal attacks. Scroll through the comment section of the blog ZeroHedge.com to see the sort of nonsense that passes for debate. A lack of reasoned discourse is overcompensation for a weak investment thesis. [Rick Schwartz, the Domain King, has written all about this] . . . . Astute investors will learn something from watching and thinking about other people’s mistakes. Hopefully, you can avoid repeating these errors when the next mania rolls around."